The Ticker Quick Views on Politics, Economics and Finance
Something Smells at Green Mountain Coffee Roasters
Green Mountain Coffee Roasters Inc. shares lost almost half their value today after the company reported second-quarter revenue that trailed analysts' forecasts. On that note, it's worth revisiting a March 26 Bloomberg News story about some remarkably timed stock sales by the company's founder and chairman, Robert P. Stiller.
Stiller sold $66.3 million of his stock in February: 500,000 shares on Feb. 15 at $65.94 each, and 500,000 shares on Feb. 24 at $66.68 each. The sales were his largest in a single month since at least 2003, when the stock traded below $2.
On March 9, Green Mountain shares fell 16 percent to $52.59 on Starbucks' introduction of a machine for home-brewing single cups of espresso and coffee, a challenge to Green Mountain's Keurig system. Green Mountain spokesmen at the time declined to specify when the company learned of Starbucks' plan.
The stock closed today at $25.87, down 48 percent.
Stiller also disposed of 19,065 shares on March 27, when they still fetched $51.91. Stiller classified that transaction as a gift in the form he filed with the Securities and Exchange Commission disclosing the ownership change.
If Stiller is selling, you don't want to be buying.
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